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Thursday, 30 July 15
EFFECTS OF THE CHINESE STOCK MARKET CRISIS - INTERMODAL
 All evidence is currently signaling that the Chinese stock market will be the newest hurdle for the global economy. With the world's second largest economy's stock market facing massive problems over the past six weeks, the Chinese government has taken various measures (including pouring almost half a trillion USD via state-owned financing entities and suspending IPOs) in an effort to stabilize the current situation.
However Monday's drop of ~8.5%, the largest drop recorded since February 2007, with commodity companies and consumer firms having felt the brunt of the decline, shows that these measures have been lackluster at best or that the problem is that much larger than expected; both equally problematic conclusions. Various researchers are now predicting further substantial drops in the coming weeks. This has fueled worries concerning the growth prospects of the Chinese economy which, given its influence on shipping via imports/exports, is sure to be felt by shipowners globally.
The June 12th peak signaled the start of a decline which has no visible bottom. The rout has to date wiped out almost four trillion USD in market value and while corrective measures did result in a +12% rally, the stock market has slumped once again, making this positive correction rather short. While the Chinese government has committed to stabilizing the situation, investor confidence is currently being shattered, as correctional actions have been largely ineffective, which is exacerbating the problem. With no certain idea of when, or indeed how, the situation might be stabilized, this is certain to have an adverse effect on the wavering Chinese economy as a whole.
China's economy has been slowing down for quite a while. As a result, growth prospects are being revised to lower levels, which should also have a major effect on imports / exports specifically in regards to crude oil/refined petroleum, iron ore, steel and soybeans. The various shipping routes to China are sure to feel the pressure on their respective freight rates. This could very well push various shipowners to choose different trading routes at less-than-desirable levels in order to compensate.
With the dry bulk market currently enjoying some long awaited improvements on rates, this upset could yet again drive down dry market freight rates (especially for capes which have shown s substantial rebound over the past few weeks).
One of the very ,very few certainties regarding the Chinese stock market situation is that the current volatility of the market is sure to persist until we see some stabilization on macro data and/or corporate earnings. The coming months will almost certainly bring wild swings in stock values and, until confidence is restored and stability is reached, the effects of the stock market crash on the Chinese economy will not slow down.
It remains to be seen whether Chinese policy makers will be able to minimize the damage or if the issue spirals out of their control. Whichever it is, it seems that the ride ahead remains bumpy.
By Linos-Alexandros Kogevinas
Marketing—Harbour Towage & Port Agency
Cotzias Intermodal Shipping Inc
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 07 August 15
COAL PRICE DEVELOPMENTS CAN ONLY BE DESCRIBED, SUCCINCTLY AS "OVERSUPPLY MEETS SUBDUED DEMAND" - VDKI
Coal Outlook 2015 – International
Regarding the outlook for global coal trading, two questions arise: firstly, “ whether the years of ...
Friday, 07 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 528.1 MMST; DOWN 8.7% Y/Y - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 06 August 15
THE RATES FOR CAPES SHOOT UP LAST WEEK; GIVING THIS RECENT RALLY SOME MUCH NEEDED LEGS - INTERMODAL
COALspot.com: The Dry Bulk market noted another positive closing last week, entirely supported by Capesize performance, which managed to balance th ...
Thursday, 06 August 15
HARD COAL AND COKE IMPORTS TO GERMANY REACH NEW ALL-TIME HIGH OF 56.2M TONES IN 2014
Demand for German and imported hard coal In 2014, in 2014 fell by almost 8%, or 4.8m TCE, to 56.2m TCE.
According to German Coal Importer ...
Thursday, 06 August 15
SEABORNE WORLD TRADE IN STEAM COAL GROWS BY 3% YOY - GERMAN COAL IMPORTER ASSOCIATION
Global trade with hard coal, at 1,272m tones in 2014, increased by 35m tonnes or 3% in comparison with the previous year.
According to associa ...
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- MS Steel International - UAE
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
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